Rakesh Jhunjhunwala increased his stake in this share, the share gave a breakout

The Kochi-headquartered private sector bank has shared its shareholding pattern for the recently ended September 2021 quarter with BSE where it is reported that Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala have jointly acquired 1.01 per cent additional shares in the bank. have purchased. Now, they together hold 3.65 per cent stake in Federal Bank.

Q2FY22 . Federal Bank Shareholding Pattern for

As per the Federal Bank shareholding pattern available with BSE for the July to September 2021 quarter, Rakesh Jhunjhunwala and Rekha Jhunjhunwala together hold 2.10 crore shares, which is 1.01 per cent of the total issued paid-up capital of the South Indian Bank. In addition, Rakesh Jhunjhunwala holds 5,47,21,060 shares or 2.64 per cent stake in South Indian Bank in a personal capacity. Therefore, Jhunjhunwala has an overall stake of 3.65 per cent in Federal Bank.

As per Federal Bank’s shareholding pattern for the June 2021 quarter, Rakesh Jhunjhunwala held 5,47,21,060 shares or 2.64 per cent stake in Federal Bank, while Rekha Jhunjhunwala’s name was missing from the list of individual shareholders. This means Rekha Jhunjhunwala and Rakesh Jhunjhunwala jointly bought 1.01 per cent stake or 2.10 crore Federal Bank shares in Q2FY22.

Federal Bank Share Price Outlook

According to stock market experts, this stock of Rakesh Jhunjhunwala has given a fresh breakout today and the share price of Federal Bank can go up. ₹110 in the immediate short term.

To advise stock market investors to buy shares of Federal Bank; Sumeet Bagdia, Executive Director, Choice Broking said, “Federal Bank shares have given a fresh breakout today and may go higher in the near term. ₹110 per share level. One can buy Federal Bank shares at the current market price, with a strict stop loss ₹93 level.”

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.